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Unemployment at 24-year low

מאי 28, 2008. Zeev Klein

The unemployment rate for men fell below 6%, its lowest level in 30 years

The seasonally adjusted unemployment rate fell to 6.3% of the civilian labor force in the first quarter of 2008, the Central Bureau of Statistics reports. This is a 24-year low, since the unemployment rate of 5.9% in 1984. The unemployment rate fell from 6.7% in the fourth quarter of 2007 and 7.8% in the first quarter of 2007.

The weekly average of unemployed was 184,600 during the first quarter, the lowest number since 1990.

The unemployment rate for men fell to 5.9%, its lowest level in 30 years. The unemployment rate for women fell to 6.7%.

The labor force totaled 2.94 million in the first quarter, of whom 2.76 million had jobs. Participation in the labor force rose to 56.6% from 56.1% in the preceding quarter. Men's participation in the labor force was 62.3% and women's was 51.3%.

The number of persons unwillingly employed in part-time jobs rose 9.3% from the preceding quarter to 123,300, amounting to 4.5% of the total working labor forces. 2% of men and 7.4% of women unwillingly held part-time jobs during the first quarter.

Unemployment rates in the large cities varied widely, from 4.8% in Tel Aviv to 6.4% in Haifa and 7.5% in Jerusalem. The unemployment rate in the Galilee was 8.3%.

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